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Bellevue Real Estate Local Market Update – July 2024 As temperatures rise, so has the supply of for-sale homes in our area. Last month, active inventory continued its upward trajectory, which is leading to some summer price stabilization. Every region represented here saw a rise in the number of single-family homes and condos for sale in June. And while median sold prices did increase […]
Bellevue Real Estate Local Market Update – June 2024 The numbers are in, and last month’s real estate sales data in our region told two tales. The first is of a market that has had far more demand than supply, with rising prices and quickening market times reflecting this imbalance. The second tale is of a market attracting the attention of sellers eager to […]
Bellevue Real Estate Local Market Update – May 2024 Our local real estate market is exhibiting seasonal strength, with most areas seeing month-over-month and year-over-year sales gains. Despite continued interest rate increases, which can constrain both buyers and sellers, the number of closed transactions in King and Snohomish counties has risen for three straight months. This suggests that both sides of the table are […]
Bellevue Real Estate Local Market Update – April 2024 It’s the time of year when for-sale signs typically start popping up like tulips and daffodils. Houses show well in the spring, just as the number of homebuyers peaks and sellers feel more ready to list. While we are seeing the market thaw this spring, challenges remain, especially for buyers. There remain more buyers in […]
Bellevue Real Estate Local Market Update – March 2024 Seasonal changes are starting to take shape across the region and the local real estate market is experiencing cautious optimism. As we transition from winter to spring, home and condo sales are increasing, in both units and price. Low inventory means motivated sellers are finding success in about a week’s time, while buyers thread the […]
Bellevue Real Estate Local Market Update – February 2024 Like some plants and trees, the local real estate market is starting to bloom. Last month, median residential sold prices increased in each of the four geographic areas covered below. That’s welcome news for intending home sellers, who are also benefitting from continued low inventory region-wide. At the same time, local buyers are seeing stabilizing […]
Bellevue Real Estate Local Market Update – January 2024 Despite moments of snow in Western Washington, the local real estate market is slowly warming, as new opportunities arise for both home buyers and sellers. Lower mortgage rates are welcome news for buyers, and low inventory means sellers are starting the year with minimal competition. King County continues to see residential price gains, with last […]
Bellevue Real Estate Local Market Update – December 2023 As we march steadily into the cooler winter months, the expected seasonal slowdown is upon us. Interest rate increases have continued to influence a quieter-than-usual fall market. Higher mortgage rates reduce buying power, as well as the momentum of move-up buyers and sellers. Fewer sellers mean lower inventory and a reduction in closed sales. Indeed, the […]
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Bellevue Real Estate Local Market Update – November 2023 As we march steadily into the cooler winter months, the expected seasonal slowdown is upon us. Interest rate increases have continued to influence a quieter-than-usual fall market. Higher mortgage rates reduce buying power, as well as the momentum of move-up buyers and sellers. Fewer sellers mean lower inventory and a reduction in closed sales. Indeed, the […]
Bellevue Real Estate Local Market Update – October 2023 With the fall season finally upon us, the behavior of the housing market is like the range in outdoor temperatures: somewhere between warm to cool. There’s a lower overall volume of home sales than in recent years, but at the same times buyers are moving quickly and assertively on highly desired properties, despite higher interest […]
Bellevue Real Estate Local Market Update – September 2023 As summer draws to a close, the local housing market remains somewhat unsettled. This is due to persistently high interest rates that have caused buyers to pause and sellers to hold onto their pandemic-era mortgage rates, as well as low inventory increasing competition for the available listings. Sold home prices in some areas have begun […]
Bellevue Real Estate Local Market Update – August 2023 The dog days of summer are upon us, and along with stifling heat comes a sluggish market. High interest rates and a dearth of available inventory are driving prices up and slowing sales across the region. One major contributor to the low supply of homes is the phenomenon of homeowners protecting their sweet pandemic-era mortgage […]
Bellevue Real Estate Local Market Update – July 2023 This summer’s local housing market is seeing low inventory feed higher prices, putting the squeeze on would-be buyers. June is typically the month where home prices reach their apex, and last month was no exception as King and Snohomish counties’ prices neared the peaks seen during the sugar high of the pandemic market. Approximately 80% […]
Bellevue Real Estate Local Market Update – June 2023 The more frenetic activity of a typical spring real estate market has certainly hit our area, with buyers out in droves looking for homes. What they’ve found, however, is high competition and scant listings. The region’s low housing inventory has been a constraint that has resulted in fewer closed sales than we’ve seen in recent […]
Bellevue Real Estate Local Market Update – May 2023 As the weather warms, so too does our real estate market, it seems. With dwindling inventory and climbing prices, the housing market is on an upswing, even if it’s a small one. This places sellers back in the driver’s seat, with buyers forced to compete against multiple offers and in the face of higher interest […]
Bellevue Real Estate Local Market Update – April 2023 Spring has truly arrived in our region, with longer days and blooming cherry blossoms. Along with these harbingers of the season, the pace of the local real estate market has also picked up, indicating that the spring market is finally here. An uptick in new listings and price gains in the last month demonstrates a […]
Bellevue Real Estate Local Market Update – March 2023 A recent surge in purchase activity indicates that the early spring real estate market is in full swing in our region. Fluctuating interest rates have caused some buyers to converge on properly-priced listings when rates are down, while potential sellers have been hesitant to let go of the historically low mortgages they have on their […]
Bellevue Real Estate Local Market Update – February 2023 Spring may have come early to the local housing market, with home sales increasing and multiple offers sneaking back into the norm after a downturn over the last few months. While still not at the levels of the peak pandemic market, buyers are actively competing with one another again, as mortgage rates and prices have […]
Bellevue Real Estate Local Market Update – January 2023 The close of 2022 brought the housing market extremes of the last year into sharp focus. With decreased sales, generally increasing inventory and lower prices, the December market finally seemed to hit the winter slowdown that has characterized typical market cycles of years past. This stands in contrast to the early months of 2022, which […]
Bellevue Real Estate Local Market Update – December 2022 As temperatures drop and we approach the end of the year, the local housing market has remained somewhat sluggish — an indication of a return to normal seasonality. Slower home sales are not necessarily a bad sign; in many cases causes as benign as the holidays and inclement weather have pushed buyers off their path, […]
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